The US Freezes While Markets Overheat

Cold doesn’t even begin to describe the weather in much of the US and Canada this past week. Texas saw temperatures that rivaled that of Fairbanks — for the unaware, that’s highly unusual.

Wind turbines failed first, freezing solid overnight. Nat gas took up the bulk of this deficit but soon fell prey to the deep freeze.

Hell, even a nuclear power plant shut down due to lack of winterization.

Cascend’s recommendation? Winterize equipment, add power reserves for energy companies, and optimize the existing grid. Easier said than done, but it’s a great place to start.

The exploding domestic demand for energy still wasn’t enough to stop the US from experiencing its first-ever petroleum surplus on record.

Given the macroeconomic environment, this dichotomy shouldn’t shock you too much. The real US economy is still reeling from lockdowns while Wall Street hits new all-time highs. It’s a topsy-turvy investment landscape.

Stocks are now 84% higher than the long-term trendline, demonstrating steep historic overvaluation.

Given the recent retail mania, which saw GameStop’s stock price rise by over 1600% in a week, things are starting to look very toppy.

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